Energy efficiency is good for more than just saving on electricity costs. It can also help to improve the economy. If a business or building owner is interested in upgrading their lighting fixtures, energy efficiency consultants can help determine the most beneficial solution.
According to a report by the American Council for an Energy-Efficient Economy, the economy is more closely tied to energy efficient improvements than to energy production. The study found that America spent around $574 billion on energy efficient improvements in 2010. Utilities, manufacturing and construction companies, as well as appliances and automobiles were among the sectors that turned to energy efficient solutions, the report stated.
Researchers also found that energy efficient spending increased by about 80 percent between 2004 and 2010, and these investments contributed to growth in the economy as well as a reduction of electricity costs and energy usage.
Authors of the report say the information shows that investments in energy efficient solutions are helping the U.S. economy grow. It also proves that energy efficiency is as economically important as new oil and gas production, if not more so, Greentech Media reported.
“One immediate conclusion from this assessment is that the productivity of our economy may be more directly tied to greater levels of energy efficiency rather than a continued mining and drilling for new energy resources,” said John Laitner, the leader of the study told Greentech Media.
Investments in building efficiency was a major contributor to the increased spending in the energy sector, the report said. Lighting specialists can help a building owner determine how energy efficient lighting fixtures will reduce electricity consumption and cost.